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Oct 1, 2012 3:00pm EDT
pisani, to doug kass who of course is putting money to work in this market on the short side. in particular. and i asked him that question. when are fundamentals going to matter again? he said when the stock market doesn't work anymore. that's when they will matter. when people feel that it's just not working. that even though they are putting money to work in the market, the market is not responding. when that happens, we don't know, but at some point fundamentals matter. >> yeah, well ult mattly they still do matter. i agree the markets have been distorted by qe, marie wra. on the earnings, nick has it right. earnings has been slowing down but have been spectacular in the last two years. 2010, earnings of the s&p were up 38%. 2011, 16%. of course they're going to come down. the low-term average growth i think is 7%. if we get growth this year, it's not like the last few years but it's still growth. we probably get something similar next year as well. the question is, is qe 3 the earnings trough? can you talk to that, guys? nick, can you address that issue? i'm a little bit
Oct 22, 2012 3:00pm EDT
and will continue and we heard that from doug this morning, the ceo of caterpillar. it helped that stock. i'll get to that in a moment. we were down 110 points midday and then we started a comeback of sorts late in the day. but we did and we are now below or have been below 50-day moving average. one-year chart of the dow here. i want to see this carefully here. it's not that precise. what we might be doing is moving below the 50-day moving average and then testing it again to the upside. we'll watch that over the next day or so very carefully. the best performing dow component today was caterpillar. they set the negative tone this morning with the warning and here it is up 1.4% on the day. ge was the worst performer among dow components with the soft earnings on friday. it was down sharply that day and down 1.46% today. the dow is positive for the day. despite that, here's something we haven't talked about in a while. the fare indicator rising again. the vix up for the first time since mid june. we'll watch that carefully. still far away from the 20-point yellow flag area. sectors today, when las
Search Results 0 to 1 of about 2